It Has Arrived, Final Prep Time
Posting Guru
Joined: Mar 2018
Posts: 1,962
Likes: 11
From: Fairbanks, AK
Depending on your credit rating, how much you're putting down, and if you bring in your own pre-approved financing, they'll match APR or try to do a little better than your rate.
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Junior User
Joined: Nov 2016
Posts: 68
Likes: 0
My rate was through a local Credit Union. If Ford wants to match or offer lower then Sure Ill take that.
But my 3.99 for 84 months is through the local credit union.
But my 3.99 for 84 months is through the local credit union.
Fleet Mechanic
Joined: Mar 2006
Posts: 1,519
Likes: 134
I'm dealing with this now and not sure what to do. My truck comes in next week
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
Posting Guru
Joined: Mar 2018
Posts: 1,962
Likes: 11
From: Fairbanks, AK
Yes, contact a couple of Credit Unions before you go in to pay for your truck. Ask them what their best rate they can offer you is - shop around. The better your credit score, the better your rate will be.
Senior User
Joined: Dec 2018
Posts: 276
Likes: 0
I'm dealing with this now and not sure what to do. My truck comes in next week
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
Fleet Mechanic
Joined: Mar 2006
Posts: 1,519
Likes: 134
The ford finance manager at the dealer I am working with told me that "Well when you leave here its considered a used car so you wont get a good rate."
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Posting Guru
Joined: Jan 2011
Posts: 1,352
Likes: 4
Not true with most credit unions. My credit union does the same low rate on new and used vehicles for example. Credit unions are far better then banks since they are non profit..
Hotshot
Joined: Mar 2017
Posts: 10,162
Likes: 1,373
From: Chaz
I'm dealing with this now and not sure what to do. My truck comes in next week
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
If I finance through my company the best that can do a hair under 10% !!!
If I finance through me personally the best they can using an outside bank is 6% but I can only put down $10-25K. Anything more than that the rate goes up.
Do I contact a local Credit union prior to going to get my truck ? Or just go get it at the high rate and hope to refinance. ?
I just don't know what the right thing to do it. I can fill out an application for USAA credit union prior to going there.
Matt
I need to do this too and mine is coming in next month. They said my company is approved through Ford but we didnt get to rates. My commercial bank is at 5.5 42 months and my credit union was giving me a hard time.
Was planning on stretching it out to keep the payment down and just putting in some large payments whenever money comes.
Senior User
Joined: Dec 2018
Posts: 276
Likes: 0
It will be considered a Refinancing by the Credit Union but I got the exact same rate that they give for new vehicles (2.95%). They mailed FFS a check and asked for the title transfer, nothing I had to do or pay but the DMV title transfer fee ($45).
Senior User
Joined: Dec 2018
Posts: 276
Likes: 0
No wasted time in getting $500 off and paying 2.95% a year instead of 8.7% over 60 months. Especially if all the effort required is filling out a form and submitting a copy of the registration. Even if only on $25K of debt: $2,000 in finance costs vs. $6,000 in finance costs over 5 years and $70 lower payment per month.
Hotshot
Joined: Mar 2017
Posts: 10,162
Likes: 1,373
From: Chaz
Naw by the time you can get the payoff letter plus 10 days. The interest accrued may be close to $500.
Then the credit union will reamortize the loan.
The interest expense is higher at the beginning.
Then the credit union will reamortize the loan.
The interest expense is higher at the beginning.
Senior User
Joined: Dec 2018
Posts: 276
Likes: 0
On $25,000 amount financed at 8.7%, the daily interest ahead of your first payment is $6. I paid off the loan within 15 days and did pay $90 in interest to FFS. Now my daily interest charge ahead of first payment is $2 and this amount will go down with every payment made. I’ll probably pay it off within 2 years anyway